Northeast Financial Consultants Inc Buys 353 Shares of GE Aerospace (NYSE:GE)

Northeast Financial Consultants Inc lifted its stake in shares of GE Aerospace (NYSE:GE) by 28.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,608 shares of the company’s stock after acquiring an additional 353 shares during the quarter. Northeast Financial Consultants Inc’s holdings in GE Aerospace were worth $268,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GE. Vanguard Group Inc. boosted its stake in GE Aerospace by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the company’s stock worth $14,980,297,000 after purchasing an additional 410,172 shares during the period. FMR LLC grew its holdings in shares of GE Aerospace by 1.5% in the fourth quarter. FMR LLC now owns 66,823,968 shares of the company’s stock valued at $11,145,570,000 after purchasing an additional 965,012 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of GE Aerospace by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the company’s stock valued at $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank purchased a new position in shares of GE Aerospace in the fourth quarter valued at $2,375,439,000. Finally, Northern Trust Corp grew its holdings in shares of GE Aerospace by 5.8% in the fourth quarter. Northern Trust Corp now owns 10,046,867 shares of the company’s stock valued at $1,675,717,000 after purchasing an additional 553,104 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GE shares. Citigroup cut their target price on shares of GE Aerospace from $235.00 to $227.00 and set a “buy” rating for the company in a report on Thursday, April 10th. UBS Group raised their target price on shares of GE Aerospace from $207.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $220.00 target price on shares of GE Aerospace in a report on Wednesday, April 23rd. Northcoast Research raised shares of GE Aerospace from a “neutral” rating to a “buy” rating and set a $205.00 target price for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price target on GE Aerospace from $212.00 to $222.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, GE Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $216.92.

GE Aerospace Stock Up 0.4%

NYSE:GE opened at $222.40 on Thursday. GE Aerospace has a twelve month low of $150.20 and a twelve month high of $223.93. The company has a market cap of $237.16 billion, a price-to-earnings ratio of 37.13, a price-to-earnings-growth ratio of 2.59 and a beta of 1.31. The stock has a fifty day simple moving average of $196.64 and a 200-day simple moving average of $188.71. The company has a current ratio of 1.09, a quick ratio of 0.81 and a debt-to-equity ratio of 0.88.

GE Aerospace (NYSE:GE) last released its earnings results on Tuesday, April 22nd. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.20. GE Aerospace had a return on equity of 22.19% and a net margin of 14.31%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.06 billion. Analysts anticipate that GE Aerospace will post 5.4 EPS for the current year.

GE Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Monday, March 10th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.65%. This is an increase from GE Aerospace’s previous quarterly dividend of $0.28. The ex-dividend date was Monday, March 10th. GE Aerospace’s dividend payout ratio (DPR) is 22.40%.

Insider Transactions at GE Aerospace

In other news, SVP Mohamed Ali sold 1,602 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $200.67, for a total transaction of $321,473.34. Following the transaction, the senior vice president now owns 8,805 shares in the company, valued at approximately $1,766,899.35. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert M. Giglietti sold 4,104 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $196.73, for a total value of $807,379.92. Following the transaction, the vice president now owns 11,540 shares in the company, valued at approximately $2,270,264.20. This represents a 26.23% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

GE Aerospace Company Profile

GE Aerospace (also known as General Electric) is a company that specializes in providing aerospace products and services. It operates through two reportable segments: Commercial Engines and Services and Defense and Propulsion Technologies. It offers jet and turboprop engines, as well as integrated systems for commercial, military, business, and general aviation aircraft.